Fashion designer Oscar de la Renta signed a lease at the retail space at 680 Madison Avenue in Lenox Hill, Manhattan. The lease was disclosed in a filing in city property records yesterday. According to a source, the lease runs for 10 years and starts at about $3.5 million per year. The space is 4,392 square feet on the ground floor, and 3,305 square feet…
On June 29, 2023, there were three residential sales above $10 million recorded, totaling $63 million. Ask 36 LLC paid $37.5 million to Akmj 520 Park Trust Dated 09/21/2018 for the property at 520 Park Avenue in Lenox Hill, Manhattan. The deal closed on June 20, 2023 and was recorded on June 29, 2023. The property has 4,628 square feet of built space according to…
Glorious Sun Group through the entity G.S. 505 Park, LLC as borrower signed a refi loan with lender Bank of East Asia valued at $8 million for the office building (O4) at 505 Park Avenue in Lenox Hill, Manhattan. The deal closed on June 23, 2023 and was recorded on June 28, 2023. The prior lender was Bank of East Asia which held debt that…
Urban View Development Group through the entity 87 Irving Realty LLC as borrower signed a rehab construction loan with lender Popular Bank through the entity Popular Bank valued at $16.9 million for the specialty building (W9) at 81-87 Irving Place in Clinton Hill, Brooklyn. Urban View Development Group submitted a major alteration application for a conversion of the building at 87 Irving Place in Clinton…
NuVerse Advisors through the entity 3055 Vernon LLC as borrower signed a new construction loan with lender Bank Hapoalim valued at $65.3 million for the 118-unit development at 30-55 Vernon Boulevard in Astoria, Queens. The deal closed on June 20, 2023 and was recorded on June 28, 2023. The owner bought the property on August 25, 2022, for $25 million. The signatory for NuVerse Advisors…
Dennis & Co. Auto Group through the entity Dco Realty 3230 Jerome LLC paid $4 million to Martha Steadman through the entity Tri Star Garage Service Corp. for the industrial building (G9) at 3230 Jerome Avenue in Bedford Park, Bronx. The deal closed on June 15, 2023 and was recorded on June 29, 2023. The property has 34,733 square feet of built space according to…
Bryant Park Holdings through the entity 854 Prez LLC paid $5.5 million to Simon J. Anderson and Christina V. Anderson through the entity Anderson, As Trustee, Christina V for the two-unit building (B3) at 854 President Street in Park Slope, Brooklyn. The deal closed on June 28, 2023 and was recorded on June 29, 2023. The property has 4,072 square feet of built space and…
Andrew Zafir through the entity 545 85 Properties LLC paid $6.7 million to Bronstein Properties through the entity Bay Ridge 85 LLC for the 43-unit residential walkup building (C1) at 545 85th Street in Bay Ridge, Brooklyn. The deal closed on June 26, 2023 and was recorded on June 29, 2023. The property has 27,700 square feet of built space according to a PincusCo analysis…
Shaun Ajodan through the entity 1711 Realty Group LLC paid $7.3 million to Aryeh Realty through the entity 1711 Light LLC for the eight-unit residential walkup building (C7) at 1711 Second Ave. in Yorkville, Manhattan. The deal closed on June 23, 2023 and was recorded on June 29, 2023. The property has 7,300 square feet of built space and 11,431 square feet of additional air…
A contract Apple Bank for Savings as seller signed with Prime Rok Real Estate as buyer to sell 636 Pelham Parkway South in Pelham Parkway, the Bronx, for $6.15 million, has collapsed, according to a suit the bank filed yesterday in New York State Supreme Court. Case LINK Apple Bank for Savings as seller and Prime Rok Real Estate as buyer signed a contract June…
Alexico Group filed a lawsuit in New York State Supreme Court yesterday seeking to undo Rockrose Development’s $160 million purchase of the former St. Francis College campus in Brooklyn Heights, alleging Rockrose and the college violated nondisclosure agreements. Case LINK Court filings represent the position of one party and are not necessarily accurate or complete. According to the complaint, Izak Senbahar’s Alexico Group alleges it…
Sharif El-Gamal’s Soho Properties filed a lawsuit in New York State Supreme Court June 28, 2023, seeking to block a UCC auction set for July 10, 2023 to sell a $57 million mezzanine loan secured by the Margaritaville Resort Times Square at 560 Seventh Avenue in the Garment District in Manhattan. The original notice for the auction was published in April. The complaint alleges the…
Maguire Capital Group through the entity Maguire Butler LLC bought a note with an original principal of $11 million from Cathay Bank secured by the Akkad family’s industrial building (F2) at 255 Butler Street in Gowanus, Brooklyn. Cathay Bank filed to foreclose on the loan in April 2023, and now Maguire Capital is continuing the foreclosure action. 511468/2023 The loan sale closed on June 15,…
Herman Stark through the entity Starco Marcy LLC paid $3 million to Hirshmark Capital through the entity 818 Marcy Ave Fs LLC for the 12-unit residential walkup building (C1) at 818 Marcy Avenue in Bedford Stuyvesant, Brooklyn. The deal closed on June 5, 2023 and was recorded on June 28, 2023. The property has 6,075 square feet of built space according to a PincusCo analysis…
Chabad Young Professionals through the entity Chabad Young Professionals, Inc. paid $5 million to KP Developers through the entity Mott Of Fr LLC for the specialty building (W9) at 247 West 24th Street and a development parcel on West 25th Street in Chelsea, Manhattan. The deal closed on June 26, 2023 and was recorded on June 28, 2023. The two properties have 3,820 square feet…
The Japanese real estate investment company Yagihyo Shokusan through the entity Yagihyo Shokusan Co., Ltd. paid $6.6 million to the entity 340 West 48 Sg LLC in care of Relo Redac Inc., for the 15-unit residential walkup building (C1) at 340 West 48th Street in Hell’s Kitchen, Manhattan. The deal closed on June 8, 2023 and was recorded on June 28, 2023. The property has…
An entity affiliated with Israel Frankel alleged it was in contract to buy 2047 Ryer Avenue in Fordham Heights, the Bronx from the Gjonbalaj family’s Spaxel for $5.7 million, but the sale was not consummated and the buyer wants the deposit back. The complaint alleges the seller has not returned the deposit. The parties signed a contract March 20, 2023, to sell for $5.7 million,…
Emerald Creek Capital filed a lawsuit yesterday alleging that a $23.5 million loan it provided in 2021 to Hidrock Properties secured by the hotel development site at 112 Liberty Street in the Financial District of Manhattan is in a maturity default. The suit is not seeking a foreclosure, instead it is seeking the payment of an alleged $3.5 million guaranty. LINK The loan matured in…
Abe Garbo of GW Equities signed a contract to buy a church building at 129 Russell Street in Greenpoint, Brooklyn from the Evangelical Lutheran Church in America. The contract was signed November 22, 2022, and the closing date is dependent on court approval. The agreement was disclosed in a petition the church made to obtain the court’s consent to sell the property, which is required…
The owners of the Miami-based lending company Network Capital Funding through the entity 453 W 17th Street LLC paid $17.5 million to Neal Wainland and Robert Wainland through the entity The N.E.W. Corp. for the office building (O5) at 453 West 17th Street in Chelsea, Manhattan. The sale appeared in city property records today. This sale is another example of users buying spaces to occupy…
